By Tony Elumelu, has emphasized the need for increased oil production to finance Nigeria’s economic diversification and development.
Speaking at the Nigeria Petroleum Industry Leadership Discourse in Abuja on Thursday, Elumelu highlighted oil revenue as a key driver of industrialization, energy security, and infrastructure growth.
The event, themed “Nigeria’s Oil Production Growth Roadmap: Acceleration Imperatives,” was organized by Heirs Energies, a subsidiary of Heirs Holdings, to bring together industry leaders and policymakers to strategize on boosting oil production.
Elumelu, who also chairs United Bank for Africa (UBA) and Transcorp Group, stressed that while global discussions focus on energy transition, Africa’s primary concern should be securing reliable energy access.
He called for policies that encourage investment in oil production while balancing long-term sustainability goals.
The discourse underscored the importance of leveraging Nigeria’s oil sector to fund critical economic sectors and ensure national prosperity.
